ICIS has implemented a process of rolling consultation on all of its pricing methodologies. Consultation paper GMC16/20 is part of this formal process and covers all of the ICIS primary price points included in the publication World Crude Report (WCR).
This consultation will be open from 29 May until 29 June 2020. ICIS will publish all responses unless noted as confidential, plus a summary of findings and any resultant decisions, by 30 June 2020. ICIS will give further notice if the decisions entail a material change to existing methodology.
This consultation asks both general questions about the suitability of the ICIS WCR methodology and questions about specific market issues.
Click here to view the World Crude Report (WCR) Methodology Consultation 2020 World Crude Methodology Consultation 2020
Click here to download the current WCR methodology. World Crude Methodology – 16 August 2017 (exp date 1 Sept 2020)
To provide further comments or feedback on the ICIS crude oil market methodology for WCR, please contact WCR editor Sophie Udubasceanu or WCR deputy editor Richard Price:
Decision
There were no formal responses to consultation GMC 16/20.
ICIS will be implementing changes to the methodology of the World Crude Report as consulted on in June from 1 August 2020. This includes changes made in Section 2 – point A, B, C,D (1-3) and E – as detailed in the methodology consultation GMC 16/20 available World Crude Methodology Consultation 2020.
ICIS continues to welcome any feedback on its WCR methodology outside of the formal consultation process.
To provide further comments or feedback please contact Sophie Udubasceanu, Global Oil Editor on sophie.udubasceanu@icis.com or Richard Price, Global Oil Deputy Editor on richard.price@icis.com.
